ECO2102 Industrial Economics

Industrial economics deals with economic problems of firms and industries and their relationship with society. The course is a presentation of the theory of industrial economics. It examines traditional and alternative theories of the firm and market structure. The behaviors - such as barriers to entry and product differentiation - which emerge under various market structures, as well as their consequences for economic welfare will be analyzed. 

General Course Objectives

By the end of the course, the participants should be in a good position to do the following:

• To define the key concepts of industrial efficiency.
• To explain theory of the firm and business motives of the firm.
• To examine the market structures and demand analysis
• To discuss the cost theory and optimum size of the firm
• To describe the general concepts of market concentration, diversification, industrial finances, pricing decision, location of induction, government regulation of industries and labour productivity.

Expected Learning Outcomes

• To introduce learners to the economic problems of firms and industries and their relationship with society.
• To help learners gain understanding of the theory of industrial economics
• To examines traditional and alternative theories of the firm and market structure
• To enable the learners, examine the behaviors - such as barriers to entry and product differentiation - which emerge under various market structures, as well as their consequences for economic welfare will be analyzed.